Financial Security vs Financial Freedom

 

Here, I am writing what I love to write. Today, I am sharing my knowledge to differentiate the financial security and financial freedom. Both words, we speak and use. I need financial security when you will give the interview to your boss. I need financial freedom when you will fail in your business. So, know both.

1. Meaning 

Financial security 

Financial security is demanded by employee from employer because he is fearing that he will have to do big work and he will not get big salary or future financial security in the future in the form of  guaranteed pension. 

Financial freedom

Financial freedom is demanded by business owner and investor from his business or his invested money. It is his challenge, he will free from regular duty with financial free. He has ability to do this and he will do for this. 

2. Hard Work

Financial security

Employee did not do the hard work and advance he wants big salary, bonus, leave cash salary, rewards and pension after retirement. Actually, he demands for his financial security but with this action, he wants to show he has focus on reward instead focus to perform on the his project and never develop the ability to compel the boss to increase the pay what he want. By repeating bird voice

I need more financial security, 

I need more financial security, 

I need more financial security, 

I need more financial security, 

I need more financial security, 

He makes its habit and spends more time with this words and never develop great skills of high performing person. 

It is natural law, who perform great will get big reward which is 1000 times more than financial security

Financial Freedom

Business owner daily learns new books. Daily attends new motivational seminars and then he will focus

I have to perform better

I have to increase sales by making my customer important

I have to love to my customer 

I have to increase the quality of my products

With this, I can achieve my financial freedom

3. Feeling

Financial Security

It is employee's feeling. He feels, he has lack of financial security. 

Financial Freedom

It is business owner feeling. He deserves for financial freedom

4. Control of System

Financial Security

Employee or self employee who wants financial security, does not have the control on the system. He is just part of system and work hard daily to increase the skill for getting high paid salary and use same salary to pay the interest on the loan which he used for personal pleasures instead money making assets

Financial Freedom

Businessman is the controller of the system. He makes the system of financial, production, hr and research by making its department and appointing efficient employees on it and manage their salary and he enjoys the financial freedom from their intelligence

5. Planning

Financial Security

For financial security, employee invest in long term govt savings fund and insurance plan and retirement pension plans which are unable to make money with money. So, this planning are fail to give financial freedom and even fail to give financial security because the unable to fight with inflation 

Financial Security

In financial freedom, business owner plans to buy such assets which brings money regular in his pocket which makes him more and more freedom. 

6. Level

Financial Security

If you have employee, you have to achieve the basic level of financial security but never stand their because you have to start to do small part time business and focus to achieve higher level of financial freedom. 

Financial Security

If you are small business, you have to focus to start big business by managing more and more risk, you can become all time financial free person.